Tuesday, 3 October, 2023

Beema Samiti to present details about Corona insurance


By Keshab Raj Paudel, Kathmandu, Nov. 9: Beema Samiti, the regulatory authority of the insurance companies, have asked all the insurance companies to provide it with the details within a week about the number of people that have bought the COVID-19 insurance policy and the amount paid to them.

Corona insurance was started in Nepal in the second week of April. There were two policies. One was of Rs. 50,000 while the other was of Rs. 100,000 and in case a person who has bought the insurance policy tests positive for the novel coronavirus, he or she was to get either amount as per the policy bought.

It was provisioned in the scheme that one was eligible to demand insurance amount once he/she is confirmed through PCR tests of having caught the virus.

However, many insurance companies did not pay the amount as ensured in time, which made the Beema Samiti instruct the non-life insurance companies to pay the amount within a week from the time when an insured person is confirmed of having COVID-19.

This instruction will go into force within a few days.

Nirmal Adhikari, assistant spokesperson at the Beema Samiti, said that all the 20 non-life insurance companies that introduced the corona policy were asked to submit details within a week of the number of people who have bought the policy and the amount paid to the infected so far.

He said that the companies were directed to pay the amount as per the policy sold although changes were made in the policy.

"We will make public within a few days about the number of people that have got corona insurance and the amount paid to them," said Adhikari.

He said that a person would not get insurance amount for two times even if he/she gets infected twice or a person who recovered from the virus infection would not be eligible to do insurance again.

Insurance companies brought forth this policy as part of their social responsibility. Hence, one cannot participate in this for two times, Adhikari said.

He said corona insurance was going on, dismissing rumor that it was stopped.

One cannot claim insurance amount if infection is detected within 30 days from the date of purchase of insurance policy.

Policy change: no more Rs. 100,000

 Adhikari said that changes in corona insurance policy has been made. It was on September 13.

As per the new policy, a person who has bought the insurance policy gets only Rs. 25,000 on the basis that he/she is confirmed of having been infected with the SARS-CoV-2 in PCR test.

This applies to all who bought the policy after September 13.

However, depending on whether a person gets admitted to hospital, a person who has bought insurance policy can get up to Rs. 75,000 as per the bills.

Adhikari said that the Beema Samiti had also asked the insurance companies to furnish details about how they were paying the insurance amount in case of death of an insured person.